GOD BLESS PAUL O'NEILL:

A new investment program being tested in some states makes the case: what if the poorest children started life with some money in the bank.

That is the premise of a program catching on among Democratic leaders around the country. So-called baby bonds have been discussed in at least eight states and lawmakers have approved programs in Washington, D.C., Connecticut and California.

The idea is for the government to deposit a few thousand dollars into a trust account for each infant born to parents below a designated income level. As adults, the beneficiaries can use the money--plus investment returns--to help pay for education or a home.

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